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parents to have fewer but better educated children, which may foster economic development. Second, government should sometimes …
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It has been shown that a person’s relative income – compared to a reference group – has a negative impact on self … relative income is low. In this paper we study this hypothesis by estimating the effect of relative income on job mobility … characteristics. Our findings suggest that workers compare their own income to that of their neighbors, and low relative income is …
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In this paper we present a model of economic growth where agents are characterized by social status concern behaviour. With respect to the literature, we show that social status seeking is not always desirable for economic growth. Specially, we prove that the impact of status seeking on growth...
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